Home to nearly 6,800 finance and insurance companies and with GDP growth of 52 percent over the last 10 years (Bureau of Labor Statistics, 2019; Bureau of Economic Analysis, 2019), Iowa is the one of the nation’s leaders in insurance and finance, attracting companies such as Nationwide, Prudential, Principal Financial Group and Transamerica. The state is also the birthplace of numerous insurtech advancements that have shown early signs of revolutionizing the industry.
A number of these advancements can trace their origins back to Iowa’s Global Insurance Accelerator, the world’s first business accelerator geared toward insurtech. Founded in 2015, the Global Insurance Accelerator is a mentor-driven program connecting early-stage startups with established insurance companies.
Through the program, startups glean important insights about the industry from executives (to whom they may otherwise not have access), while executives are able to see, firsthand, new technologies that will advance the field. Since its launch, the program has attracted companies from across the U.S. and around the world to Iowa.
Download the fact sheet for key insights into Iowa’s finance and insurance industry and for additional information on this year’s Global Insurance Accelerator.